|
Totesport Casino Owned By British Government Avoids Taxes |
Totesport Casino, the Internet branch of English bookmaking firm the Tote, has announced plans to transfer its official base of operations from Curacao to Alderney, an island in the English Channel off the coast of France.
The logical part of this move is that by moving, the Tote will avoid a stiff 15% tax levied by the British government against online gambling sites; the embarrassing part is that the Tote is currently owned by... the British government.
As the largest legal market for online gambling in the world, the United Kingdom has tried to attract online casinos and poker operators to locate in Britain, ostensibly through provisions of the 2005 Gambling Act. However, few companies have reacted to the bill, preferring to remain in offshore locations.
The primary cause of the reluctance to accept Britain as a base of operations and licensing is the tax, a prohibitive restraint placed upon the industry by Gordon Brown as one of his final acts as Chancellor.
The Gambling Act allows for great freedom for gaming advertisements. Tote would not qualify for the advertising breaks with a Curacao license, but Alderney, which is a British protectorate of 2400 people, does. By switching to the nearby island, Tote will have ample advertising opportunities, particularly in regards to horse-racing.
Although the Tote is in the process of being privatized, the company is still presently run by the Department of Culture, Media, and Sport. A spokesman for the Department said, "This is a business decision for the Tote. The Tote is run as a business."
Apparently, good business in the United Kingdom means avoiding ridiculous taxation, even if you are the government that passed the taxes.
Source:http://www.casinogamblingweb.com/ |
News 
